If you’re an Uber or a taxi driver, you need to register for GST and lodge BAS every quarter regardless of the revenue you have earned. If you are a rideshare driver looking to lodge your BAS, visit this page for more info.
For other businesses, if you earn over $75,000 per year you are required to register for GST and report your activities by lodging BAS every quarter unless the ATO has advised you to report monthly. If you earn less than $75,000 you can choose to report annually.
You can lodge your BAS by preparing your BAS form and submitting it to the ATO directly, or you can work with a BAS agent to ensure you accurately report your business activity and don’t incur any unnecessary costs.
If you would like to speak with one of our consultants about streamlining your accounting systems, reducing costs and growing your business please visit this link and get in touch with us.
|Quarter||Self-Lodge Due Date||BAS Agent Concessional Due Date|
|Quarter 1 (July, August, September)||28 October||25 November|
|Quarter 2 (October, November, December)||28 February||28 February|
|Quarter 3 (January, February, March)||28 April||26 May|
|Quarter 4 (April, May, June)||28 July||25 August|
Monthly BAS reports have to be filed by the 21st day of the month after that being reported. This means that your BAS for the month of July must be filed by the 21st of August.
If your business caters to other businesses rather than individuals, then it can be beneficial to register for GST and lodge BAS even though your revenue is less than $75,000 per year. This is because businesses can claim GST they have paid out, so your business clients can claim what you have charged them as GST, and you earn more.
If your clients are mostly individuals and you’re earning less than $75,000 per year then it might be better not to register for GST as you will have to charge your individual clients for GST which they won’t be able to claim.